Shrinking silk demand from the key Indian silk material importer, The US, has influenced the country's target of silk export earning fixed for the fiscal 2009-10. The country garnered Rs 28.71 billion in 2009-10, just 67 percent of the target of Rs 41.5 billion fixed by the Union Textile Ministry and also recorded a 10 percent fall against the earning of the fiscal 2008-09 which stood at Rs 31.7 billion.
The export volume of silk items reduced in 2009-10 mainly due to the fall in exports to the US to R s4.1 billion from Rs 5.3 billion of 2008-09. Moreover, exports to Hong Kong as well as UK tumbled down to Rs 3.66 billion and R s3.12 billion in 2009-10, from Rs 3.81 billion and Rs 3.41 billion, respectively.
Further in this declining trend, Indian silk exports to Germany fell down to Rs 1.58 billion from Rs 1.93 billion, to Italy from Rs 1.96 billion to Rs 1.5 billion and to France to Rs 1.22 billion from Rs 1.5 billion, while to Spain it tumbled down to Rs 1.12 billion from Rs 1.81 billion.
Natural silk yarn, fabrics, made ups, readymade garments, silk carpet and silk waste are the products which India exports. It shipped around Rs 14.13 billion worth natural silk yarn, fabrics, made ups, and Rs 13.93 billion worth silk garments in fiscal 2009-10.
Fibre2fashion News Desk - India
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